If you have a lot of objects in your tree (say a ton of smartlists), and you want to move one smartlist that is at the bottom of the navigation tree (say it's named "Zoo") to a folder that's at the top of the navigation tree (say it's named "Apple"), well get ready to wait as you sloooooowly drag that smartlist all the way to the top of your tree.
It'd be really nice if there was a faster way to do this. Perhaps in the context menu there could be a "Move To..." option where you can select a particular folder to move an object to.